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National Company Law Tribunal

Can Byju's pay salaries on time, clear employees' pending dues?

Can Byju's pay salaries on time, clear employees' pending dues?

Tue, May 28, 2024

The company is yet to pay the remaining salary dues of February and March to thousands of its employees, amid ongoing legal battles with investors and vendors.

NCLT admits insolvency plea against Coffee Day Global

NCLT admits insolvency plea against Coffee Day Global

Tue, Jul 25, 2023

The Bengaluru bench of the NCLT passed an order over a plea filed by a financial creditor of the company, claiming dues of Rs 94 crore, Coffee Day Enterprises Ltd, CDGL's parent company said in a regulatory filing.

NCLAT Upholds Go First's Insolvency Order, Lessors Asked To Move To NCLT

NCLAT Upholds Go First's Insolvency Order, Lessors Asked To Move To NCLT

Mon, May 22, 2023

In what came as a relief for Go First, the National Company Law Appellate Tribunal (NCLAT), on May 22, upheld the NCLT order on the airline's insolvency. The lessors have been asked to move an appropriate application at the National Company Law Tribunal (NCLT).

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Binani Cement sale: UltraTech back in the race after hiccup

Binani Cement sale: UltraTech back in the race after hiccup

Thu, May 03, 2018

UltraTech’s revised bid needs to be submitted within three days to the resolution professional for consideration of the Committee of Creditors (CoC) and the whole process, which might involve getting fresh bid from Dalmia, has to be completed by June 24, about two months extension from the statutory 270-days deadline for insolvency resolution.

NuMetal, LNM back in fray for Essar Steel?

NuMetal, LNM back in fray for Essar Steel?

Fri, Apr 20, 2018

The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday put the ball back in the committee of creditors’ (CoC) court by ordering it and the resolution professional (RP) of Essar Steel to re-examine the eligibility of the two bids submitted in the first round.

ICICI Bank share price plunges 6 pct on CBI probe talk

ICICI Bank share price plunges 6 pct on CBI probe talk

Tue, Apr 03, 2018

ICICI Bank Board met on Monday to take stock of various cases at National Company Law Tribunal (NCLT) involving the lender.

This is what will sway Sensex and Nifty over the week

This is what will sway Sensex and Nifty over the week

Mon, Apr 02, 2018

An important event to watch out for is the monsoon. Experts said till we do not have a normal monsoon, Indian markets could remain volatile with a downward bias. Post monsoon, there could be some recovery if the government is able to pay farmers liberally and alleviate some of the farm distress seen in the rural side.

PNB fraud: MCA mulls legal options to stall Nirav Modi firm Firestar Diamond's bankruptcy proceedings in US

PNB fraud: MCA mulls legal options to stall Nirav Modi firm Firestar Diamond's bankruptcy proceedings in US

Sun, Mar 25, 2018

PNB fraud: The move comes close on the heels of the National Company Law Tribunal (NCLT) restraining more than 60 entities, including Nirav Modi, Mehul Choksi, various individuals, companies and limited liability partnership firms, from selling their assets. A multi-agency probe, including by the Serious Fraud Investigation Office (SFIO), is progressing into the scam, whose kingpin is alleged to be Nirav Modi. The fraud, the biggest so far in the Indian banking industry, was perpetrated by way of issuance of fraudulent Letters of Undertaking ( LoUs )

Dalmia Bharat, UltraTech remain keen in Binani despite 'fraud'

Dalmia Bharat, UltraTech remain keen in Binani despite 'fraud'

Thu, Mar 22, 2018

Dalmia Bharat Group CEO Mahendra Singhi said the company too had found some suspicious transactions during their internal evaluation but declined to quantify the amount.

Debt-laden Aircel expects things to get even 'more difficult'

Debt-laden Aircel expects things to get even 'more difficult'

Thu, Feb 22, 2018

The telecom firm is likely to file for bankruptcy at the National Company Law Tribunal.

Debt-laden Aircel to file for bankruptcy at NCLT

Debt-laden Aircel to file for bankruptcy at NCLT

Mon, Feb 19, 2018

Malaysian parent company Maxis, run by businessman Ananda Krishnan, had earlier proposed a cash infusion to support the debt-laden company.

SBI may begin insolvency proceedings against 12 defaulters

SBI may begin insolvency proceedings against 12 defaulters

Tue, Jan 02, 2018

A total of 28 accounts were identified by the RBI as wilful defaulters of lenders, which are facing heavy stressed assets in their balance sheet.

China Development Bank says talks with indebted RCom underway

China Development Bank says talks with indebted RCom underway

Fri, Dec 29, 2017

Last month, China Development Bank initiated insolvency proceedings at India`s National Company Law Tribunal, adding that a large amount of principal and interest from RCom was overdue.

Wilful defaulters in RBI's second list may face IBC proceedings

Wilful defaulters in RBI's second list may face IBC proceedings

Wed, Dec 13, 2017

Axis Bank, which was the first to come out and reveal its exposure in these defaulters, stated in Q2FY18 result that it has exposure on 12 of the identified defaulters.

NCLT order disturbing, should have taken our leave, says SC in Unitech case

NCLT order disturbing, should have taken our leave, says SC in Unitech case

Tue, Dec 12, 2017

Government approached the NCLT to take over the Unitech management in a move to protect the interests of nearly 20,000 home buyers, and 51,000 depositors to whom the company owes Rs 723 crore.

SC to hear tomorrow appeal of Unitech against NCLT order

SC to hear tomorrow appeal of Unitech against NCLT order

Mon, Dec 11, 2017

The NCLT has recently invoked the provisions of the Companies Act and allowed the central government to take over the Unitech Limited and appoint its nominee directors in the Board of the firm.

Unitech approaches NCLT against move to take over management

Unitech approaches NCLT against move to take over management

Fri, Dec 08, 2017

Earlier in the day, Unitech was dragged to the tribunal by the government seeking to take over the functioning of the firm alleging mismanagement and siphoning of funds by the management.

NCLT allows govt to appoint 10 directors on Unitech board

NCLT allows govt to appoint 10 directors on Unitech board

Fri, Dec 08, 2017

The National Company Law Tribunal today allowed the government to appoint 10 directors on the board of debt ridden realty firm Unitech Ltd.

IRP nod must for recovering money from defaulter's bank account

IRP nod must for recovering money from defaulter's bank account

Sun, Nov 19, 2017

The NCLAT has said financial creditors cannot recover any amount from a defaulter's bank account without the nod of the Interim Resolution Professional (IRP) during the corporate insolvency resolution process.

Mistry firms seek to amend plea in Mumbai NCLT against Tatas

Mistry firms seek to amend plea in Mumbai NCLT against Tatas

Fri, Nov 03, 2017

Cyrus Investments and Sterling Investments filed the amendment pleas, after the National Company Law Appellate Tribunal (NCLAT) on September 21 asked it to approach the Mumbai NCLT.

NCLT asks McDonald's to file reply in 10 days on contempt plea

NCLT asks McDonald's to file reply in 10 days on contempt plea

Thu, Sep 28, 2017

While listing the matter for next hearing on October 23, the tribunal has also granted Bakshi a week's time to file rejoinder.

Tata battle: NCLAT grants shareholding waiver to Mistry

Tata battle: NCLAT grants shareholding waiver to Mistry

Thu, Sep 21, 2017

Mistry has been locked in a legal battle with the Tatas since his unceremonious exit as chairman of Tata Sons -- the promoter company of the USD 105-billion car-to-software Tata group in October last year.

Does the new SC order brings respite for Jaypee Infratech's homebuyers?

Does the new SC order brings respite for Jaypee Infratech's homebuyers?

Mon, Sep 11, 2017

Interim resolution professional Anuj Jain has been asked to provide a solution within 45 days to protect the interest of homebuyers and creditors of Jaypee.

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